Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/50318

Full metadata record

DC Field

Value

Language

dc.contributor.author

Witte, Björn-Christopher

en_US

dc.date.accessioned

2011-08-18

en_US

dc.date.accessioned

2011-10-06T14:08:18Z

-

dc.date.available

2011-10-06T14:08:18Z

-

dc.date.issued

2011

en_US

dc.identifier.isbn

978-3-931052-91-1

en_US

dc.identifier.uri

http://hdl.handle.net/10419/50318

-

dc.description.abstract

This article explores the influence of competitive conditions on the evolutionary fitness of different risk preferences. As a practical example, the professional competition between fund managers is considered. To explore how different settings of competition parameters, the exclusion rate and the exclusion interval, affect individual investment behavior, an evolutionary model based on a genetic algorithm is developed. The simulation experiments indicate that the influence of competitve conditions on investment behavior and attitudes towards risk is significant. What is alarming is that intense competitive pressure generates riskseeking behavior and undermines the predominance of the most skilled.

en_US

dc.language.iso

eng

en_US

dc.publisher

|aBERG |cBamberg

en_US

dc.relation.ispartofseries

|aBERG working paper series on government and growth |x81

en_US

dc.subject.jel

C73

en_US

dc.subject.jel

D81

en_US

dc.subject.jel

G11

en_US

dc.subject.jel

G24

en_US

dc.subject.ddc

330

en_US

dc.subject.keyword

risk preferences

en_US

dc.subject.keyword

competition

en_US

dc.subject.keyword

genetic programming

en_US

dc.subject.keyword

fund managers

en_US

dc.subject.keyword

portfolio theory

en_US

dc.subject.stw

Investmentfonds

en_US

dc.subject.stw

Führungskräfte

en_US

dc.subject.stw

Anlageverhalten

en_US

dc.subject.stw

Risikopräferenz

en_US

dc.subject.stw

Wettbewerb

en_US

dc.subject.stw

Evolutionsökonomik

en_US

dc.subject.stw

Evolutionärer Algorithmus

en_US

dc.subject.stw

Theorie

en_US

dc.title

Fund managers - why the best might be the worst: On the evolutionary vigor of risk-seeking behavior